EP ADVISORY: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
EP ADVISORY
Largest movements
- Cash +€22,521
up €22,521 (+215%), from €10,477 to €32,998
mainly Net result for the year (+€62,441) and Current portion of long-term debt (+€6,817)
- Reserves +€61,608
up €61,608 (+37.0%), from €166,543 to €228,151
- Debts after one year -€39,181
down €39,181 (-23.9%), from €164,181 to €125,000
- Tax, wage and social debts -€9,742
down €9,742 (-54.2%), from €17,959 to €8,217
- Current portion of long-term debt +€6,817
up €6,817 (+17.4%), from €39,089 to €45,907
- Financial charges -€2,175
down €2,175 (-26.5%), from €8,199 to €6,024
- Gross operating margin +€897
up €897 (+1.0%), from €85,564 to €86,461
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €409,512 | €427,075 | +€17,564 | +4.3% |
| Fixed assets | 21/28 | €173,037 | €172,173 | -€864 | -0.5% |
| Tangible fixed assets | 22/27 | €3,037 | €2,173 | -€864 | -28.4% |
| Plant, machinery and equipment | 23 | €788 | €445 | -€344 | -43.6% |
| Furniture and vehicles | 24 | €2,249 | €1,729 | -€521 | -23.1% |
| Financial fixed assets | 28 | €170,000 | €170,000 | = | 0.0% |
| Current assets | 29/58 | €236,474 | €254,902 | +€18,428 | +7.8% |
| Amounts receivable after more than one year | 29 | €150,000 | €150,000 | = | 0.0% |
| Other amounts receivable | 291 | €150,000 | €150,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €75,390 | €71,263 | -€4,128 | -5.5% |
| Trade receivables | 40 | €37,562 | €36,300 | -€1,262 | -3.4% |
| Other amounts receivable | 41 | €37,828 | €34,963 | -€2,865 | -7.6% |
| Cash at bank and in hand | 54/58 | €10,477 | €32,998 | +€22,521 | +215% |
| Deferred charges and accrued income | 490/1 | €607 | €641 | +€34 | +5.6% |
| Total equity and liabilities | 10/49 | €409,512 | €427,075 | +€17,564 | +4.3% |
| Equity | 10/15 | €185,093 | €246,701 | +€61,608 | +33.3% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €166,543 | €228,151 | +€61,608 | +37.0% |
| Distributable reserves | 133 | €166,543 | €228,151 | +€61,608 | +37.0% |
| Amounts payable | 17/49 | €224,418 | €180,374 | -€44,044 | -19.6% |
| Amounts payable after more than one year | 17 | €164,181 | €125,000 | -€39,181 | -23.9% |
| Financial debts | 170/4 | €164,181 | €125,000 | -€39,181 | -23.9% |
| Amounts payable within one year | 42/48 | €60,057 | €55,213 | -€4,844 | -8.1% |
| Current portion of amounts payable after more than one year | 42 | €39,089 | €45,907 | +€6,817 | +17.4% |
| Trade debts | 44 | €2,176 | €256 | -€1,919 | -88.2% |
| Suppliers | 440/4 | €2,176 | €256 | -€1,919 | -88.2% |
| Taxes, remuneration and social security | 45 | €17,959 | €8,217 | -€9,742 | -54.2% |
| Taxes | 450/3 | €17,959 | €8,217 | -€9,742 | -54.2% |
| Other amounts payable | 47/48 | €833 | €833 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €181 | €161 | -€20 | -10.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,368 | €864 | -€503 | -36.8% |
| Other operating charges | 640/8 | €1,106 | €1,159 | +€54 | +4.9% |
| Gross operating margin | 9900 | €85,564 | €86,461 | +€897 | +1.0% |
| Operating profit (loss) | 9901 | €83,091 | €84,437 | +€1,346 | +1.6% |
| Financial income | 75/76B | €5,499 | €6,123 | +€625 | +11.4% |
| Recurring financial income | 75 | €5,499 | €6,123 | +€625 | +11.4% |
| Financial charges | 65/66B | €8,199 | €6,024 | -€2,175 | -26.5% |
| Recurring financial charges | 65 | €8,199 | €6,024 | -€2,175 | -26.5% |
| Profit (loss) for the period before taxes | 9903 | €80,390 | €84,536 | +€4,146 | +5.2% |
| Income taxes | 67/77 | €21,625 | €22,096 | +€470 | +2.2% |
| Profit (loss) for the period | 9904 | €58,765 | €62,441 | +€3,676 | +6.3% |
| Profit (loss) for the period to be appropriated | 9905 | €58,765 | €62,441 | +€3,676 | +6.3% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.